The US Federal Reserve said on Thursday that it had lent investors $6.5bn from its Term asset-backed securities loan facility (Talf) to buy securities backed by auto, credit card and other types of consumer loans.
The total amount of money borrowed in this part of the asset-backed market was $14.7bn, according to data from Dealogic, meaning that more than half of the new bonds were bought directly by investors without the support of the Fed.
